Saba Capital Amends 13D Filing for Neuberger Berman Fund
Ticker: NBXG · Form: SC 13D/A · Filed: Jun 4, 2024 · CIK: 1843181
Sentiment: neutral
Topics: activist-filing, shareholder-activity, sec-filing
TL;DR
Saba Capital updated its stake in Neuberger Berman Next Gen Connectivity Fund. Watch this space.
AI Summary
Saba Capital Management, L.P. has filed an amendment (No. 2) to its Schedule 13D, indicating a change in its beneficial ownership of Neuberger Berman Next Generation Connectivity Fund Inc. common shares as of June 4, 2024. The filing details Saba Capital's holdings and intentions regarding the issuer.
Why It Matters
This filing signals potential shifts in significant shareholder positions and strategic interests in the Neuberger Berman Next Generation Connectivity Fund Inc., which could influence the fund's future direction.
Risk Assessment
Risk Level: medium — Schedule 13D filings often precede significant corporate actions or changes in shareholder influence, introducing a degree of uncertainty.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Filing entity
- Neuberger Berman Next Generation Connectivity Fund Inc. (company) — Subject company
- Michael D'Ang (person) — Contact person at Saba Capital
FAQ
What is the primary purpose of this SC 13D/A filing?
This filing is an amendment (No. 2) to Saba Capital Management, L.P.'s Schedule 13D, reporting changes in beneficial ownership of Neuberger Berman Next Generation Connectivity Fund Inc. common shares.
Who is the filing entity and who is the subject company?
The filing entity is Saba Capital Management, L.P., and the subject company is Neuberger Berman Next Generation Connectivity Fund Inc.
What is the date of the filing and the date as of change?
The filing was made on June 4, 2024, and the date as of change is also June 4, 2024.
What is the CUSIP number for the subject company's common shares?
The CUSIP number for the common shares of Neuberger Berman Next Generation Connectivity Fund Inc. is 64133Q108.
Who is listed as a contact person for Saba Capital Management, L.P. in this filing?
Michael D'Ang is listed as the contact person for Saba Capital Management, L.P.
Filing Stats: 1,363 words · 5 min read · ~5 pages · Grade level 10.2 · Accepted 2024-06-04 08:11:18
Key Financial Figures
- $0.0001 — Inc (Name of Issuer) Common Shares, $0.0001 par value (Title of Class of Securiti
- $52,169,713 — ported herein. A total of approximately $52,169,713 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 72KB
- 0001062993-24-011690.txt ( ) — 73KB
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: June 4, 2024 SABA CAPITAL MANAGEMENT, L.P. By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Chief Compliance Officer SABA CAPITAL MANAGEMENT GP, LLC By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Authorized Signatory BOAZ R. WEINSTEIN By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Attorney-in-fact* * Pursuant to a power of attorney dated as of November 16, 2015, which is incorporated herein by reference to Exhibit 2 to the Schedule 13G filed by the Reporting Persons on December 28, 2015, accession number: 0001062993-15-006823 CUSIP No. 64133Q108 SCHEDULE 13D/A Page 7 of 8 Pages Schedule A This Schedule sets forth information with respect to each purchase and sale of Common Shares which were effectuated by Saba Capital since the filing of the Schedule 13D/A on 4/11/24. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 4/26/2024 Buy 29,196 11.70 5/1/2024 Buy 162,996 11.53 5/6/2024 Buy 44,049 11.83 5/6/2024 Buy 43,502 11.84 5/10/2024 Buy 925 11.91 5/13/2024 Buy 107,148 11.98 5/14/2024 Buy 94,546 11.93 5/15/2024 Buy 55,365 12.10 5/16/2024 Buy 15,169 12.11 5/17/2024 Buy 39,582 12.09 5/21/2024 Buy 18,739 12.13 5/22/2024 Buy 13,527 12.16 5/23/2024 Buy 3,163 12.24 5/24/2024 Buy 37,546 12.22 5/28/2024 Buy 7,424 12.24 5/29/2024 Buy 75,979 12.17 5/30/2024 Buy 16,930 12.07 5/31/2024 Buy 34,013 12.05